| Bank Name | Max Loan (Lacs) | Interest Rate | BLC Issuing Charge | Maximum Tenure (Month) | Chances of Loan Approval | |
|---|---|---|---|---|---|---|
Central Bank of India
|
5000 | 4.75% | 1% | 6 |
|
|
Bank of India
|
4500 | 4.80% | 1% | 6 |
|
|
Bank of Maharashtra
|
5000 | 4.75% | 1% | 6 |
|
|
Bank of Baroda
|
5000 | 4.75% | 1% | 6 |
|
|
Canara Bank
|
4500 | 4.85% | 1% | 6 |
|
|
Indian Bank
|
5000 | 4.80% | 1% | 6 |
|
|
Indian Overseas Bank
|
4500 | 4.85% | 1% | 6 |
|
|
Karnataka Bank Ltd.
|
4500 | 4.75% | 1% | 6 |
|
|
Punjab & Sind Bank
|
5000 | 4.80% | 1% | 6 |
|
|
State Bank of India
|
5000 | 4.85% | 1% | 6 |
|
|
UCO Bank
|
5000 | 4.75% | 1% | 6 |
|
|
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Union Bank of India
|
5000 | 4.80% | 1% | 6 |
|
|
Axis Bank Ltd.
|
4500 | 4.75% | 1% | 6 |
|
|
Bandhan Bank Ltd.
|
4500 | 4.80% | 1% | 6 |
|
|
City Union Bank Ltd.
|
5000 | 4.80% | 1% | 6 |
|
|
DCB Bank Ltd.
|
5000 | 4.75% | 1% | 6 |
|
|
Digibank (DBS)
|
4500 | 4.85% | 1% | 6 |
|
|
Federal Bank Ltd.
|
4500 | 4.80% | 1% | 6 |
|
|
HDFC Bank Ltd
|
5000 | 4.75% | 1% | 6 |
|
|
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ICICI Bank Ltd.
|
4500 | 4.75% | 1% | 6 |
|
|
IDFC First Bank
|
4500 | 4.80% | 1% | 6 |
|
|
IndusInd Bank
|
5000 | 4.85% | 1% | 6 |
|
|
Kotak Mahindra Bank
|
5000 | 4.75% | 1% | 6 |
|
|
RBL Bank Ltd.
|
4500 | 4.75% | 1% | 6 |
|
|
South Indian Bank Ltd.
|
5000 | 4.85% | 1% | 6 |
|
|
YES Bank Ltd.
|
5000 | 4.80% | 1% | 6 |
|
|
Supplier credits helps in getting ability to negotiate commercial terms with suppliers, access to the raw materials, capital goods at lower interest rates & as an exporter you will able to receive the payment immediately.
Supplier Credit Eligibility CriteriaEligibility Criteria depends on various factors like age of individual, repayment history, business sales/turnover& Creditworthiness ...etc.
Eligibility Criteria
Note: - - You can avail up to 85% of contract value as a loan amount
What are the factors generally affecting Supplier Credit eligibility Criteria?There are top factors that generally affects Supplier credit finance eligibility criteria as given below: -
Credit History: - Lenders are always ready to fund you, but the major reason for not funding all is that will you able to repay it? Therefore, they look at your past credit history to ensure you future commitments of repayment. So, if there any default payment found your eligibility level get lower.
Due to rejection of previous loan application: - As the factor itself cleared due to rejection of previous loan application, your new loan application gets affected as applying for multiple times, it will lower your credit score which led to reduces the eligibility chances.
To increase eligibility, you need to consider Top points as given below, this will aid you in increasing your eligibility level.
Repay existing loan: - Lender check while going through your loan application that you are having any existing loan as it will reduce your debt-to-income ratio. Therefore, try to close it as much as earlier before applying for new loan.
Build a strong credit record: - A strong credit record helps you in getting loan easier & aid in evaluating credit risk, for that you are required to do payment on timely manner as it will enhance your eligibility.
PHOTOGRAPHS 2
PAN CARD COPY
AADHAR CARD + PASSPORT
ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)
COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
PROCESSING FEE CHEQUE IN FAVOUR OF BANK
LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
PHOTOGRAPH BOTH
PAN CARD CLEAR COPY PROPRIETOR
ADDRESS PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR
OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)
FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
LAST 1 YEAR GST RETURN COPY
FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
PROVISIONAL FINANCIAL AY 2019-20
BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED)
6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS WITH CHAIN SANCTION MAP
PHOTOGRAPH PARTNERS
PAN CARD - COMPANY, ALL PARTNERS
ADDRESS PROOF - ALL PARTNERS (PASS PORT, VOTER I PAN CARD, ADHAAR)
FIRM ADDRESS PROOF- LATEST ANY UTILITY BILL
PARTNERSHIP DEED COPY
GST CERTIFICATE
GST RETURN LAST 1 YEARS
3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED
PROVISIONAL FINANCIAL AY 2019-20
3 YEAR ALL PARTNER INDIVIDUALS ITR + COMPUTATION
FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
ALL PARTNER SAVING A/C STATEMENT 6 MONTH
IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS COMPLETE CHAIN WITH MAP
ALL DIRECTORS PHOTOGRAPH
CLEAR PAN CARD - COMPANY AND ALL DIRECTORS
ADDRESS PROOF – COMPANY AND DIRECTORS
LIST OF DIRECTOR& SHARE HOLDER WITH CA CERTIFIED AS ON DATE
MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)
GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
1 YEAR GST RETURNS
ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently asked questions (FAQ) pages are Q&A-style pages that most brands build to answer queries that slip through the cracks. FAQs are targeted to give a complete sense of query satisfaction to the client.
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Documents required for Supplier Credit Loans are Request letter, offer letter, Letter to Credit, KYC report of Buyer and Suppliers.
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It's easy to apply online for a Supplier Credit Loan just submits your request letter through the website ill the application form with correct values, attach all the necessary documents.
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Some other fees you have to pay for Supplier Credit Loan like conformation cost, processing fee, LC advising fee etc.
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Any exporter or suppliers can apply for Supplier Credit Loan.
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There are some benefits of Supplier Credit Loan; -
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This short-term credit facility provided for an exporter or lenders, supply goods or services to a foreign buyer on credit terms and condition.
CA Vikas Jain - Our Mentor
9863-02-02-02